seniors
How working affects your Social Security
The Transamerica Center for Retirement Studies reports almost half of the baby boomers plan to keep working past age 70 or never retire. However, if you are working while on Social Security, it is crucial to understand the earnings test…
Who gets my Social Security when I die
Social Security recipients ask: What happens to my Social Security benefits once I die? Your Social Security benefits will stop; however, your loved ones may still be able to claim on your earnings record. The Social Security Administration states, “Certain…
Keep these Medicare rules on your radar if you’re about to sign up
Medicare is the federal health insurance program generally for people who are 65 or older. Medicare has recent rules on when to sign up, how much you pay, and how the program works. Many people who are retiring do not…
How people will be impacted by Social Security cuts
In 2023, an average of almost 67 million Americans per month receive a Social Security benefit. Social Security is the major source of income for seniors. But the Social Security Trust Fund is in trouble if not resolved; there is…
Social Security rules can be complicated, many people don’t even realize when they made a mistake
Social Security benefits, on average, account for almost 40 percent of retirement income and, therefore, is an important source of income for most U.S. retirees. Social Security becomes more important the longer a person is retired, often accounting for 50…
Senate Bill to Block Social Security Garnishment Reintroduced
Senator Ron Wyden (D-OR) yesterday reintroduced legislation that would prevent the federal government from offsetting Social Security benefits to compensate for repayment of all non-tax federal debt. The bill would include protection for outstanding debt associated with student loans, where…
Who is most (least) prepared for retirement?
A recent Vanguard survey found that 85 percent of Gen Z’ers surveyed said retirement benefits were a chief concern in their job hunts. Both Gen Z and millennials are saving more in their workplace retirement plans than previous generations due…
These rules dictate how much you will receive in retirement
The Social Security Administration reports that 31 percent of the workforce in private industry have no access to pension coverage, and only 16 percent of those without access said they have any retirement savings. A recent Nationwide Retirement Institute survey…
When someone dies
Social Security retirement benefits are paid in the month following the month for which they are due. It’s important to understand that Social Security only pays benefits for a specific month if the beneficiary was alive for the entire month.…
Why you should prioritize saving for retirement
Saving for retirement can seem like a daunting task and one that you might think you do not need to be concerned with right now, especially if retirement is far off. Balancing financial priorities is tough, but choosing the right…